What else is there to Consider other than Price?

By
Real Estate Agent with Keller Williams Greater Omaha

What else is there to Consider other than Price?

When negotiating the sale of a home, sellers often focus solely on the price that they get. However, there are other factors to consider that will affect the net amount a seller will actually clear from the sale.

The first consideration is the closing date. Sellers with mortgages on their homes might want an early closing date. The savings in avoiding additional mortgage payments, real estate taxes, insurance, and utilities can be significant.

Another to consider is the costs being paid by the seller for the buyer. These can include closing costs, prepaid and prorated taxes and insurance, escrow funds, appraisal and inspection fees, and homeowner association dues, just to name a few. For an average priced home in Omaha these usually total between three thousand to five thousand dollars.

A third factor that affects how much a seller will net is the cost of repairs from any inspections performed. It is very rare that a home inspection is done and issues are not found. The expense of repairing these issues cuts into a seller's bottom line. A radon test introduces the potential for the expense of radon mitigation. In my experience about half of all radon tests performed in Omaha come back with results higher than the EPA safe limit and as a result need mitigation. The cost of mitigation nearly always falls between $700 to $800.

Come back next month to read about an issue that is at least as important as price and that is risk.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Selling
Location:
Nebraska Douglas County Omaha
Groups:
Omaha Real Estate
Nebraska Real Estate
Local Expert
Tags:
radon
best agents in omaha
top agents in omaha
omaha homes for sale
negotiating home sale
guarantee sale program
omaha guaranteed sold

Comments 2 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
122,413
Rhonda Hollifield
Broker REALTOR CRS, GRI, ABR
Keller Williams Realty Mountain Partners

Interesting that you also have radon in Nebraska.  In Western North Carolina it is very common, because of the mountains.  The average radon system cost here is from $1,250 to $1,500.  All good points you make; also factoring in the sellers situation for where they are going.

July 21, 2012 06:05 AM
Rainmaker
482,347
Rob D. Shepherd
Principal Broker ABR, GRI
Coldwell Banker Coast

Sellers are so focused on price that they tend to overlook the weasel  contengencie clauses.

July 21, 2012 06:09 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
458,200

The Trumm Team Omaha Homes for Sale, Real Estate

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the house to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: